Hong Kong: Automatic Exchange of Information Reporting
In accordance with the OECD’s Automatic Exchange of Information (AEOI) requirements, account holders or controlling persons (referring to both individuals and corporate entities) of Hong Kong financial institutions must report their tax-residency status to the Inland Revenue Department of Hong Kong before June 1, 2018.
AEOI was implemented effective July 1, 2017 by Hong Kong and 75 countries, including all EU member states and Hong Kong treaty partners. Accordingly, financial institutions in Hong Kong must identify all financial account holders who are tax residents or controlling persons from these 75 countries. In addition, all affected individuals and corporate entities must declare the required information.